Driving Customer Innovation and Value Together: The Power of Ecosystems
Changes in consumer behavior toward digital demand increased exponentially in 2020. As Satya Nadella, Microsoft’s CEO stated last year, “We’ve seen two years’ worth of digital transformation in two months.” The increasing customer demand for a superior digital experience has driven the need for insurers to accelerate their digital strategies. Meeting the ever evolving and increasing digital needs and expectations of today’s customer requires insurers to be able to pivot quickly and get to market even faster, while still focusing on cost savings, operational efficiency and business continuity. It would be almost impossible for an insurer to have the resources and expert capabilities to handle these challenges on their own. It takes strategic partnerships and a strong ecosystem for insurers to be able to provide a truly personalized digital customer experience. Partner ecosystems also play a pivotal role in an insurer’s ability to innovate and grow.
At One Inc we understand the power of partnerships and the value of a strong ecosystem to further innovation in the insurance industry. Our Digital Payment Technology partners such as VISA and Bancorp help us to provide seamless payment experiences that bring convenience, speed and security to our customers. They enable us to not only be more flexible and innovative, but they also help us to stay connected to strong networks and to the heart of the payment processing industry. Our P&C Insurance Core System transformation partners such as Guidewire, Duck Creek Technologies, Majesco, and Insuresoft, allow us to ease an insurer’s path on their digital journey. Together we deliver value by providing cutting edge digital solutions that allow insurers to deliver on their promises for an optimized customer experience. Our partner ecosystem allows us to create value together. As an example of how we work together with our ecosystem partners to create value for P&C insurers, One Inc was selected by Guidewire as a pre-built integration inside Guidewire’s Cloud Platform.
As an inbound payments microservice, the Guidewire Payments API will allow insurers to integrate with common payments services to simplify and improve the premium payment experience for their customers, while ensuring that PCI compliance requirements are met. It will provide speed to market and reduced risk to insurers by significantly reducing deployment time and effort – delivering a quick win for future-focused insurers.